Exhibit 21

SCHEDULE OF SUBSIDIARIES OF BRADY CORPORATION

		Percentage
		of Voting
	State (Country)	Securities
Name of Company	of Incorporation	Owned
Brady Corporation	Wisconsin		Parent
Tricor Direct Inc. —	Delaware		100	%
Doing Business As:
Seton
Seton Name Plate Company
D&G Sign and Label Co.
Seton Identification Products
The Hirol Company
Worldmark of Wisconsin Inc.	Delaware		100	%
Brady Investment Co.	Nevada		100	%
EMED Co., Inc.	New York		100	%
Stopware, Inc.	California		100	%
Permar Sytems, Inc. —	New York		100	%
Doing Business As Electromark
Henryc, Inc. (U.S.)	New York		100	%
Oliver of New York (U.S.)	New York		100	%
AIO Holding Inc.	Delaware		100	%
AIO Acquisition Inc.	Delaware		100	%
TruMed Technologies, Inc.	Minnesota		100	%
Identicard Systems Worldwide, Inc.	Pennsylvania		100	%
J.A.M. Plastics, Inc.	California		100	%
Ave One, Inc.	California		100	%
Brady Mexico Holding LLC	Delaware		100	%
Brady Luxembourg SARL LLC	Wisconsin		100	%
Tradex Converting Inc.	Illinois		100	%
Brady People Identification LLC	Wisconsin		100	%
Comprehensive Identification Products, Inc.	Massachusetts		100	%
PV Acquisitions, LLC	Delaware		100	%
Brady International Sales, Inc.	U.S. Virgin Islands		100	%
Brady International Co.	Wisconsin		100	%
Brady Worldwide, Inc.	Wisconsin		100	%
Also Doing Business As:
Varitronic Systems
Teklynx International
Barcodes West
Temtec
Brady Australia Pty. Ltd.	Australia		100	%
Seton Australia Pty. Ltd.	Australia		100	%
Accidental Health & Safety Pty. Ltd.	Australia		100	%
Trafalgar First Aid Pty. Ltd.	Australia		100	%
Carroll Australasia Pty. Ltd.	Australia		100	%

		Percentage
		of Voting
	State (Country)	Securities
Name of Company	of Incorporation	Owned
W.H. Brady, N.V.	Belgium		100	%
W.H.B. do Brasil Ltda.	Brazil		100	%
Tradex do Brasil Ltda.	Brazil		100	%
W.H.B. Identification Solutions, Inc. —	Canada		100	%
Doing Business As:
Brady
GrafTek
Revere-Seton
Seton
Brady Canada Acquisition Co.	Canada		100	%
Identicam Co.	Canada		100	%
BRC Financial	Canada		100	%
Brady Shanghai International Trading Co., Ltd.	China		100	%
Brady Technology (Wuxi) Co. Ltd.	China		100	%
Brady (Beijing) Co. Ltd.	China		100	%
Suzhou Dicel EMC Co., Ltd.	China		100	%
Tradex Converting (Langfang) Co., Ltd.	China		100	%
Tradex Converting (Suzhou) Co., Ltd.	China		100	%
CIPI Xiamen, Ltd.	China		100	%
Panyu Meixin Metal Company Ltd.	China		100	%
Brady Holdings Danmark ApS	Denmark		100	%
Texit A.S	Denmark		100	%
B.I. U.K. Limited	England		100	%
B.I. Financial Limited	England		100	%
Seton Limited	England		100	%
W.H. Brady Co. Ltd.	England		100	%
Brady Corporation Limited	England		100	%
Brady European Finance Limited	England		100	%
Brady European Holdings Limited	England		100	%
Cleere Advantage Limited	England		100	%
Focal Display Limited	England		100	%
Focal Signs Limited	England		100	%
S & L Signmaker Limited	England		100	%
Safety Shop Limited	England		100	%
Safety Shop Co. U.K. Limited	England		100	%
Signs & Labels Limited	England		100	%
Southern Signs Systems Limited	England		100	%
Braton Europe S.A.R.L	France		100	%
Braton Groupe S.A.R.L	France		100	%
Doing Business As:
Brady
Techniques Avancees
Holman
Periprint

		Percentage
		of Voting
	State (Country)	Securities
Name of Company	of Incorporation	Owned
Brady Group S.A.S	France		100	%
Doing Business As:
Seton
Signals & Lettrasoft
Brady Holding GmbH	Germany		100	%
Brady GmbH	Germany		100	%
Doing Business As:
Seton
Balkhausen
Brady ISST
Soft & Etimark
Quo-Luck Company Limited	Hong Kong		100	%
Bakee Metal Manufacturing Company Limited	Hong Kong		100	%
Brady Company India Pte. Ltd.	India		100	%
Brady Italia, SRL	Italy		100	%
Nippon Brady K.K.	Japan		100	%
Daewon Industry Co.	Korea		100	%
Tradex (Korea) Co., Ltd.	Korea		100	%
Brady Luxembourg SARL	Luxembourg		100	%
Brady Technology SDN, BHD	Malaysia		100	%
W. H. Brady S. de R.L. de C.V.	Mexico		100	%
Brady B.V	Netherlands		100	%
CIPI Europe, B.V.	Netherlands		100	%
Texit A.S.	Norway		100	%
Brady NV	Poland		100	%
Brady Corporation S.E.A. Pte. Ltd.	Singapore		100	%
Brady Corporation Asia Pte. Ltd.	Singapore		100	%
Brady Identification S.L.	Spain		100	%
Brady AB	Sweden		100	%
Seton Scandinavia AB	Sweden		100	%
Brady Sweden Holdings AB	Sweden		100	%
Tradex Holding AB	Sweden		100	%
Tradex Converting AB	Sweden		100	%
Tradex AB	Sweden		100	%
Brady (Shenzhen) Co. Ltd.	China		100	%
Pure Vantage	England		100	%
Rapid Update	England		100	%
Brady Servicios, S. de R.L. de C.V.	Mexico		100	%
Brandon Converting Mexico S. de R.L. de C.V.	Mexico		100	%
Brandon Precision Pte. Ltd.	Singapore		100	%
Brady Technologies Asia Pte. Ltd.	Singapore		100	%
Brady Asia Holding Pte. Ltd.	Singapore		100	%
Brady Singapore Holdings Pte. Ltd.	Singapore		100	%
ID Technologies Pte. Ltd.	Singapore		100	%

		Percentage
		of Voting
	State (Country)	Securities
Name of Company	of Incorporation	Owned
ID Technologies (China) Pte. Ltd.	Singapore		100	%
Brady S.R.O.	Slovakia		100	%
Brady Holding Co. Ltd.	Thailand		49	%(1)
Brady (Thailand) Co. Ltd.	Thailand		100	%
Q.D.P.T	Thailand		100	%
Brady (Turkey) Ltd.	Turkey		100	%

(1) Brady Corporation owns 49% of the outstanding shares of Brady Holding Co. Ltd., but Brady Corporation maintains controlling voting rights. The 51% owner holds preferred shares, which entitle it to one vote for every 20 shares. Brady Corporation holds common shares, which entitle it to one vote for every one share. The preferred shareholder’s share of the net income in Brady Holding Co. Ltd is limited to recovery of its initial investment.